In an announcement on January 29, the food ministry has allocated 22 lakh tonnes (LMT) monthly sugar quota for February 2024 which is 1 LMT higher than the quantity allocated in February 2023 (21 LMT).
In the last month i.e. in January 2024 the allocated sugar quota for domestic sale was 23 LMT.
February 2024 Sugar Update
Next month’s domestic sugar quota has been set at 22 LMT (Lakh Metric Tonnes)#SugarQuota pic.twitter.com/UZKcpB4FaC— Department of Food & Public Distribution (@fooddeptgoi) January 29, 2024
According to market experts, as the quota for the month of February has been set at 22 LMT, the domestic market will see an uptick of 10 to 20 Rs per quintal. In previous months, we have observed negative sentiments, which are likely to stabilize with an expected increase in price.
